http://today.reuters.com/news/artic...2_RTRIDST_0_CITIGROUP-BOARDMEETING-URGENT.XML They should be able to come up with some kind of PR statement that will contribute to Monday's gap up fuel. Still scratching my head and wondering why the FED needed to throw so much liquidity into the markets yesterday (most since 911). Anyone watching the markets during the FOMC announcement, saw that there was heavy selling even before the rate cut was announced. Aside from that, the markets were absolutely great for scalping the past few days. Hope they can continue the volatility for awhile. Expecting monday to bounce back up on today's hammer.
You need to read the New york fed board records on repos. Thursday's 41B injection was merely a rollover of 42.5B billion of repos that came to mature. In fact, 1.5B was removed from the system on Thursday. Today was a net removal of something like 6B from the system. The press spins this any way they want.
Pssst, announcing an emergency meeting (to the world) ......................................IS PR. And I don't mean Puerto Rico.
and one more ceo hits the road, the poor bastard will be unemployed and will have make ends meet with his dozens of millions retirement package